UFood Restaurant Group Files for Bankruptcy
A local group of quick-casual restaurants has declared bankruptcy, though all of its locations remain open--at least for now.
The Boston Business Journal is reporting that UFood Restaurant Group filed for Chapter 11 Bankruptcy on Friday, with the unprofitability of its Fenway and Watertown UFood Grill locations apparently being a big factor in its decision to go this route. The article mentions that these two shops could be "pared back or closed," though it looks like its other locations (including restaurants in Downtown Crossing and Logan Airport) appear to be safe at the present time. The Newton-based company is planning to restructure its balance sheet and try to return to profitability.
[January 3, 2013 update: Eater Boston reports that the Watertown location of UFood Grill has shut down.]
In addition to its Boston-area locations, UFood also has restaurants in Maryland, Ohio, Texas, and Utah. It was formerly known as Know Fat Lifestyle Grille. (The website can be found at http://www.ufoodgrill.com/)